1975 History/Videos

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1975 In the UK inflation continues to spiral
out of control reaching 24.2% the price of Petrol increased by nearly
70% in one year, but the US sees a start back down with US inflation going
down to 9.2%, both governments use interest rates as a way of trying to
control inflation with the US Federal Reserve at 7.25% and The Bank of
England at 11.25%. Meanwhile one of the true success stories of modern
times when Bill Gates and Paul Allen create the company Microsoft. The
First of the new hobby computers are starting to appear including Altair
8800 and the battle for Video recorder standards of VHS and Betamax starts.
This is also the year the Vietnam war finally ends.

Cost of Living 1975

How Much things cost in 1975
Yearly Inflation Rate USA 9.2%
Year End Close Dow Jones Industrial Average 858
Interest Rates Year End Federal Reserve 7.25%
Average Cost of new house $39,300.00
Average Income per year $14,100.00
Average Monthly Rent $200.00
Cost of a gallon of Gas 44 cents
Average cost new car $4,250.00
Foster Grant Sun Glasses $5.00

What Events Happened in 1975

Spanish Dictator
Franco Dies

OPEC agrees to raise crude oil prices
by 10%.

The British Conservative Party chooses it's
first women leader, Margaret Thatcher

Oil goes over $13.00 per barrel

The Vietnam War ends as Communist forces take
Saigon and South Vietnam surrenders unconditionally

The US Carries out Vietnam "Operation
Babylift" bringing Vietnamese orphans to the US

New York City avoids bankruptcy when
President Gerald R. Ford signed a $2.3 billion loan

US Pulls out of Cambodia

The first oil pipeline to serve Forties oilfield
starts pumping North Sea Oil

The Suez Canal reopens for the first
time since the Six-Day War

The Unemployment Rate in the US reaches 9.2%
and recession is recognized by President Ford

King Faisal of Saudi Arabia Assassinated

Baader-Meinhof guerrillas take 11 hostages
at West German embassy in Stockholm

The First ever strike by Doctors in
the US causes hospitals to reduce services

Britains inflation rate jumps 25%

Beginning of 15 years of civil war between
Maronite Christians and Muslim militias in Lebanon